SAN DIEGO, Calfornia Real Estate Market

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San Diego (/ˌsæn diˈeɪɡoʊ/, Spanish: [san ˈdjeɣo]; Spanish for “Saint Didacus”) is a city in the U.S. state of California on the coast of the Pacific Ocean, approximately 120 miles (190 km) south of Los Angeles and immediately adjacent to the border with Mexico. With an estimated population of 1,419,516 as of July 1, 2017,San Diego is the eighth-largest city in the United States and second-largest in California. It has a population of 4,922,723 people. The city is known for its mild year-round climate, natural deep-water harbor, extensive beaches, long association with the United States Navy, and recent emergence as a healthcare and biotechnology development center. San Diego has been called “the birthplace of California” The city is the seat of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego’s main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology. (Wikipedia)

San Diego Real Estate Market Statistics

  • Metropolitan statistical area: San Diego-Carlsbad, CA
  • Population: 1,419,516 – 8ᵗʰ largest U.S. city (Wikipedia – 2017 estimate)
  • 5-year projected population growth: 0.8% (PwC, 2018 – U.S. average is 0.7%)
  • Median age: 34.6 years old (City Data, 2016 – U.S. median is 38)
  • Median household income: $71,481 (City Data, 2016 – U.S. median was $57,617)
  • 5-year projected employment growth: 0.9% (PwC, 2018 – U.S. average is 0.6%)
  • Cost of living index: 138 (City Data, 2016 – U.S. average is 100)
  • Rent-to-household-income ratio: 28.4% (PwC, 2018 – less than 30% is ideal)
  • Median 1-bedroom rent: $1566 (Rentonomics, 2018 – U.S. median is $743)
  • Year-over-year rent growth: 0.9% (Rentonomics, 2018 – U.S. average is 1.5%)
  • Median single-family home sale price: $650,000 (NAR, Q3 2018 – U.S. median is $266,900)
  • Year-over-year home sale price growth: 7.1% (NAR, Q3 2018 – U.S. median is 4.8%)
  • Multifamily property buy/hold/sell recommendations: 52% of investors say buy, 39% say hold, 9% say sell (PwC/ULI)

News on the San Diego Real Estate Market

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